MIKE COADY

Financial Expert | Business Excellence | Growth Expert
Mike is an award winning financial expert and a well-known leader in the financial industry. Having taken two of his previous firms to Chartered Status in the UK and also achieved the prestigious National IFA of the Year Award – Highly Commended. In addition, Mike is qualified to UK Financial Conduct Authority (FCA) standards, a member of the Chartered Insurance Institute, a Fellow of the Institute of Sales Management (FISM), and a Fellow of the Institute of Directors (FIoD).
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Financial coach vs financial product salesman

Mike CoadyBusiness Advice Financial coach vs financial product salesman
financial coach in dubai

Financial coach vs financial product salesman

Managing finances and personal wealth is essential. The management and process can however be overwhelming when you have no budget or strategy for your expenditure and fiscal objectives. However, this should be overcome when you consult a financial coach in Dubai.

Financial coaches are professionals that have the essential expertise in comprehensive financial planning and give you a great deal of added value. Nonetheless, before you procure the service of a financial coach, it is important to understand their roles and below we are going to evaluate them in detail.

What to look for in a great financial coach in Dubai?

In Dubai, there are many opportunities for one to accrue wealth, and this emerges from opportunities that are certainly available, lucrative employment, and a flexible market that allows you to evolve and grow. All the above can generates significant amounts of money hence the need of a financial adviser.

The UAE government has created appropriate authorities that govern financial professionals and their firms who want to pursue their career.  For example, through the UAE Insurance Authority and UAE Securities and Commodities Authority they provide accredited licenses to firms based in the UAE. It has led to the reduction of cons and fraudsters who can dupe any expatriate who is desperately looking for genuine financial advice.

The regulators aim is to protect and regulate the brokerages, implement measures to ensure better advice and are successfully creating a stronger and more regulated UAE market.

Many eligible, competent, and qualified professionals are found in well-known financial companies. Several financial brokerages and wealth firms offer expatriates in the UAE excellent levels of financial advice.

Financial coach vs financial product salesman

Hiring or consulting a financial coach allows you to take charge of your financials; nonetheless, they hold fiduciary type responsibilities. It is one of the upsides of working with an adviser. Nevertheless, it allows you to embrace accountability each time.

Additionally, the financial coach will provide a consistent, personal wealth plan, which is a strategic formula for you to save more money and build your financial worth through investing in assets or other opportunities.

Transparency is one of the factors that a qualified financial coach gives. In terms of the management of funds, there is the accountability of each dollar. Consequently, it allows you to invest more.

As there are many upsides, the downside of having a financial adviser is working with an incompetent one. It leads to misguided judgements hence the potential losses.

In comparison to the financial coach, a financial product salesman facilitates in giving clients the best investment for often the wrong reason for you.

The pro to having a great financial adviser is the unbiased judgement they give you when they want their potential clients to invest in a product or service. It is advantageous as this gives the available choices of products that are unlimited. It allows the proper selection of investment. And it allows a complete examination of the market dimensions and gives the investor an upper hand.

About Mike Coady

Mike Coady is an expat expert based in Dubai and is on hand to help with all of the above and more.

Mike is an award-winning money coach and industry leader in the financial sector.

Qualified to UK Financial Conduct Authority (FCA) standards, a member of the Chartered Insurance Institute, a Fellow of the Institute of Sales Management (FISM), a Fellow of the Institute of Directors (FIoD) and featured as a highly qualified Financial Adviser in Which Financial Adviser.

To learn how to choose a great financial adviser, download our free guide.

For more insights, further advice or guidance, you can get in touch HERE.

Blog published by Mike Coady.

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